General overview for 14/07/2016:
The market is currently in counter trend corrective cycle and the wave c to the downside is being anticipated in order to complete the correction. The corrective structure might be in the shape of a simple abc correction like irregular flat or running flat. The market will resume the up trend when the corrective cycle is terminated.
0.9955 – Wave 1 Top
0.9916 – WR1
0.9893 – Intraday Resistance
0.9800 – Weekly Pivot
0.9737 – WS1
0.9685 – Intraday Support
0.9620 – WS2
0.9519 – Invalidation Level
The higher time frame trend is still up, so buying the dips in the wave c is the way to trade this market now. Sl should be placed below the level of 0.9519*.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.